I bear the 4 weeks delay, and now I am waiting for the first funds remittance. It is hard tough, but after the 4 weeks it will be fine I think. BTW,does anyone know that how long it takes to transfer the funds from WORLDPAY accounts to my Canada bank? 5 days? or longer?
Yes you are right, I need my own merchant account. But it is very difficult to get one without a big deposit...
Plugnpay looks great!
A few years ago I lost 3000$ USD when globill.com closed. Since that time, I prefer to get the money now and pay the fees later. That way, I cannot get screwed. The deposit is a pain but brings you peace of mind.
If they require a big deposit ... then they go out of business or decide not to give it back to you when you leave ... how is this any different than, for instance, when globill.com closed
When you open a merchant account, you need to make a deposit to the bank where your merchant account is. If your billing gateway goes out of business, you simply use another gateway. Your merchant account is not tied to a specific billing gateway.
You lose your money if the bank goes bankrupt, which is a lot less likely. Moreover, if you process a lot of transactions, the risk is higher with 3rd party processors since they hold more of your money everytime your business grow. You bank only hold a fixed amount.
Third party processors are good for start-ups. Once you now where you are going, a merchant account brings you a lot more flexibility.
Can you tell me if you need a big deposit (%?)
My merchant account is about 10 years old. I think it was about 3000USD at the time. The fees may vary according to the bank. Some do not require deposits if you have a good credit with them.
Last edited by CloudyList; 11-25-2006 at 04:41 PM.